Friday, 24 February 2017
Last updated 1 hour ago
May 1 2008 | 2:00am ET
GLG Partners co-founder Pierre Lagrange, made more than $130 million over the past two years, according to regulatory filings.
A trust benefiting Lagrange—the “L” in GLG—received $86 million last year and $47.6 million in 2006, a proxy statement filed with the U.S. Securities and Exchange Commission shows. Most of the payout to Lagrange, who manages money at the London-based, New York-listed firm, came in the form of discretionary bonuses and limited partner profits.
GLG’s other two principal shareholders, co-CEOs Noam Gottesman and Emmanuel Roman, earned $4.4 million last year and $4.7 million in 2006. The former also enjoyed cash distributions of $116 million in 2007 and $55 million in 2006, while the latter took home $39 million and $19 million.
GLG revealed the compensation figures in advance of its first annual shareholder meeting, set for June.